Pederson described the Lilly Software acquisition as "a very big deal" for his company.

Lilly Software offers computer software products, including VISUAL Enterprise, a management software solution that more than 4,000 manufacturers use to increase productivity and deliver products on time.

The plan is to keep the headquarters in Hampton, Pederson said. The only change will be the company's name. Instead of Lilly Software it will be Infor Global Solutions.

Pederson said the company is committed to serving Lilly's customers and continuing the development of Lilly's technology.

While Lilly has a customer base of more than 3,000 users, Infor has more than 13,000 customers in 45 countries.